BANGKOK, Thailand — June14, 2021— Indorama Ventures (IVL), a global chemicals producer, has completed its acquisition of CarbonLite Holdings’ facility in Texas as part of the company’s commitment to increasing PET recycling capacity.
Now known as Indorama Ventures Sustainable Recycling (IVSR), the Dallas site is one of the largest producers of food-grade recycled pellets (Recycled Polyethylene Terephthalate or rPET) in the U.S., with a combined capacity of 92,000 tons annually. The facility will recycle more than 3 billion PET plastic beverage bottles per year and support more than 130 jobs directly. IVL is the world’s largest producer of recycled PET for beverage bottles. With this acquisition, IVL expands its U.S. recycling capacity to 10 billion beverage bottles a year, towards its global target of recycling 50 billion bottles (750,000 metric tons) annually by 2025.
Thailand-based Indorama Ventures entered the U.S. PET market in 2003. In 2019, the company acquired recycling facilities in Alabama and California, bringing a circular business model to its U.S. operations. The new acquisition in Texas allows IVL to better serve customers’ increasing need for recycled PET for beverages. America’s leading beverage companies have launched the ‘Every Bottle Back’ project to support the circular plastics economy by reinforcing the value of their fully recyclable PET bottles among consumers.
Mr. D K Agarwal, CEO of Combined PET, IOD and Fibers Business at Indorama Ventures, said, “We are excited to have completed this acquisition and welcome new employees to the Indorama Ventures family. Dallas now joins Indorama Ventures recycling sites around the globe, dedicated to giving new life to post-consumer beverage bottles. We are also pleased to support more than 130 green jobs for the Dallas community. Indorama Ventures Sustainable Recycling, as it will now be known, will complement our existing PET and fibre businesses in the US. By providing an expanded global recycling presence, we will meet the growing needs of our customers.”
Mr. Yashovardhan Lohia, Chief Sustainability Officer at Indorama Ventures, said, “Plastic waste has no place in our environment. By recycling 10 billion beverage bottles in the U.S, we are diverting waste away from the environment and back into the economy. The unique PET plastic used in beverage bottles is fully recyclable. Consumers want sustainable packaging and global brands are using more and more recycled content in their bottles. This recycling facility supports customer needs and consumer wants. We are delivering the infrastructure America needs to close the loop, enhancing our approach to sustainability with the Deja™ brand platform to build a circular economy for PET plastic beverage bottles”.
Posted June 14, 2021
Source: Indorama Ventures Public Company Limited (IVL)